French 75 % "millionaire tax" - it's a wealth tax!

Discussion in 'Wealth Creation & Management' started by TreasureHunter, Dec 30, 2013.

  1. sammysilver

    sammysilver Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    6,414
    Likes Received:
    1,299
    Trophy Points:
    113
    Location:
    Sydney
    Only if you want me to spit on people!
     
  2. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    3,114
    Likes Received:
    566
    Trophy Points:
    113
    Location:
    Treasure Island
    The "heavy weight mega rich" don't pay many taxes.
    Kiyosaki is right: taxes are for the poor. I reckon even millionaires fit into the "poor" category.

    I wonder what would happen if some government created a "billionaire 75 % wealth tax" or "billionaire bail-in" :p
     
  3. Argentum

    Argentum Active Member

    Joined:
    Nov 7, 2010
    Messages:
    1,943
    Likes Received:
    13
    Trophy Points:
    38
    Location:
    Australia
    maybe a tv show where the public calls in how much to $ to take from a billionaire- can be knowledge, sport.... based. Would be fun to watch. Instead of a quiz game show called millionaire call it "tax time" and the goal of the player is to get to 0 % tax if they fail from begining 75% tax
     
  4. DanielM

    DanielM Active Member Silver Stacker

    Joined:
    Oct 23, 2012
    Messages:
    2,925
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Melbourne
    You know that billionaires are included right? It's just that they have more resources at their power to help dodge said taxes
     
  5. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,419
    Likes Received:
    2,705
    Trophy Points:
    113
    Location:
    Australia
    Like Warren Buffet paying less tax than his secretary?
     
  6. Phiber

    Phiber Active Member Silver Stacker

    Joined:
    Nov 21, 2012
    Messages:
    1,601
    Likes Received:
    14
    Trophy Points:
    38
    Location:
    Australia
    Well, there is no dodging as such - rather a relocation of the residence out of the country into a more accommodating jurisdiction.
     
  7. AngloSaxon

    AngloSaxon Active Member

    Joined:
    Oct 26, 2012
    Messages:
    1,862
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Sydney
    The secretary paying 35% on her $80,000 salary (or whatever) pays more than Buffet paying 15% capital gains on multimillion dollar investments?
     
  8. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,419
    Likes Received:
    2,705
    Trophy Points:
    113
    Location:
    Australia
    So they say. Personal income tax that is.
    Own little. Use lots.
     
  9. bordsilver

    bordsilver Well-Known Member Silver Stacker

    Joined:
    May 23, 2012
    Messages:
    9,618
    Likes Received:
    315
    Trophy Points:
    83
    Location:
    The rocks
    No. Buffet pays more just that his average tax rate is lower than his secretary's. However, in fact Buffet may even pay a higher rate overall as well since his "capital gain/dividends" based income is taxed at something like 15% but this comes from his business profits that have already had to pay company tax of 30-40% before it could be paid to Buffet.

    Edit: Grammar fixes. :)
     
  10. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    3,114
    Likes Received:
    566
    Trophy Points:
    113
    Location:
    Treasure Island
    :p Well, all incomes above 1 million EUR...
    Actually, I was wondering - what would happen if they created a tax for billionaires and major companies specifically. Not that I would like that, just wondering!

    It's the poor that are heavily taxed.
     

Share This Page